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A truck costing $79000 and on which $67000 of accumulated depreciation has been recorded was discarded as having no value. The entry to record this
A truck costing $79000 and on which $67000 of accumulated depreciation has been recorded was discarded as having no value. The entry to record this event would include a
credit to Accumulated Depreciation for $67000.
loss of $12000.
gain of $12000.
credit to Accumulated Depreciation for $79000.
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Accounting Information Systems
Authors: Vernon Richardson, Chengyee Chang, Rod Smith
2nd edition
